GLRE Form 4: Johnny Ferrari granted 8,046 restricted shares

Rhea-AI Filing Summary

Greenlight Capital Re director Johnny Ferrari acquired 8,046 ordinary shares on 08/07/2025, bringing his beneficial ownership to 49,100 shares.

The shares were issued as a restricted stock award under the Greenlight Capital Re, Ltd. 2023 Omnibus Incentive Plan and will vest on the earlier of the first anniversary of the grant date and the 2026 annual general meeting of shareholders. The Form 4 was signed by an attorney-in-fact on 08/08/2025.

Positive

• Director acquired 8,046 ordinary shares on 08/07/2025, increasing reported beneficial ownership to 49,100 shares
• The award is a restricted stock grant under the 2023 Omnibus Incentive Plan with vesting tied to a time-based schedule (earlier of first anniversary or 2026 AGM)

Negative

• None.

Insights

Securities Analyst

Restricted award of 8,046 shares increases the director's stake to 49,100; appears to be routine compensation with limited immediate market impact.

The filing shows a non-derivative acquisition (transaction code "A") of 8,046 ordinary shares on 08/07/2025, increasing reported beneficial ownership to 49,100 shares. No cash price or sale was reported. The award is described as restricted stock under the 2023 Omnibus Incentive Plan and carries a time-based vesting condition tied to the earlier of the first anniversary or the 2026 annual general meeting, which suggests retention rather than immediate liquidating activity.

Corporate Governance Expert

Equity grant aligns director with shareholders; vesting by anniversary or 2026 AGM creates a clear retention horizon.

The Form 4 identifies Johnny Ferrari as a director and records a restricted stock award granted under the company plan, with vesting conditioned on time/meeting milestones. The filing was executed by an attorney-in-fact on 08/08/2025. From a governance perspective, time-based restricted awards are a standard mechanism to link management/director interests with long-term shareholder outcomes.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

FERRARI JOHNNY

(Last) (First) (Middle)

C/O GREENLIGHT CAPITAL RE, LTD.

65 MARKET ST, SUITE 1207

(Street)

GEORGE TOWN E9 KY11205

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GREENLIGHT CAPITAL RE, LTD. [ GLRE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/07/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
ORDINARY SHARES	08/07/2025		A		8,046	A	(1)	49,100	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The restricted stock award was granted pursuant to the Greenlight Capital Re, Ltd. 2023 Omnibus Incentive Plan. This award will vest on the earlier of the first anniversary of the grant date and the 2026 annual general meeting of shareholders.

Remarks:

	/s/ Sherry Diaz, as attorney in fact	08/08/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did GLRE director Johnny Ferrari report?

He acquired 8,046 ordinary shares on 08/07/2025, increasing his beneficial ownership to 49,100 shares.

Under which plan was the award granted?

The restricted stock award was granted under the Greenlight Capital Re, Ltd. 2023 Omnibus Incentive Plan.

When does the restricted stock award vest?

The award vests on the earlier of the first anniversary of the grant date and the 2026 annual general meeting of shareholders.

Who filed or signed the Form 4?

The Form 4 was signed by Sherry Diaz, as attorney-in-fact on 08/08/2025.

What is Johnny Ferrari's relationship to GLRE?

The filing indicates he is a Director of Greenlight Capital Re, Ltd.

Was a purchase price disclosed for the shares?

No purchase price or cash consideration for the restricted shares is disclosed in the filing.